Last time in this space we compared the complexities of IRA and 401(k) fees to the perennial mystery of your cable bill. While we think most people pay too much for what they’re getting (both on their screens and in their retirement accounts), there’s one area where paying an extra fee is well worth the money you spend. Naturally, that would be investment advice.
Why is retirement investing like managing your TV provider? It’s not because it’s so hard to find something you like among a zillion options. Well, actually that’s true too. But what we want to talk about is that massive, detailed monthly bill.
Plenty has been written about retirement plan fees, and no doubt the conversion will continue. It's your money we're talking about, after all. The federal government - specifically the Department of Labor or DoL - has oodles of info to pass on, and just as much regulation in place to try to keep the industry in line. But it takes a fair amount of time and attention to slog through all the pages trying to figure out what it means to you.